Malaysia

Fraud ‘masterminds’ nabbed for swindling more than RM600,000

Consultant reports he dealt with man, woman to obtain overseas bank document

Updated 4 years ago · Published on 17 Jun 2022 9:10PM

Fraud ‘masterminds’ nabbed for swindling more than RM600,000
According to the police, the victim made cash payments in stages on February 27 and March 2 amounting to RM629,000 to the male suspect as processing payment. – Bernama pic, June 17, 2022

KUALA LUMPUR – Police detained two suspects, a man and a woman, aged 56 and 57 to assist in the investigation of a banking document fraud involving losses of more than RM600,000.

Kuala Lumpur Commercial CID chief Mohd Mahidisham Ishak said both suspects who were the masterminds of the case were picked up in Jalan Bukit Bintang at 12.20pm yesterday.

He said the arrest followed a police report lodged by a financial consultant on June 10 who alleged he was deceived when dealing with the two suspects to obtain a “Standby Letter of Credit” worth US$250 million (RM1.1 billion) from a bank overseas to carry out international business in Korea.

“The victim made the cash payment in stages on February 27 and March 2 amounting to RM629,000 to the male suspect as processing payment.

“On March 4, the victim received an email from a third party which submitted the business document and he was suspicious of the document as he had made the confirmation at a local bank and believed it is fake,” he said in a statement today.

He said both suspects were remanded for four days until June 20 and are being investigated under Section 420 of the Penal Code for cheating

Mahidisham also advised the people to check with Bank Negara Customer Service Call Centre (BNMTelelink) at 1300 88 5465. – Bernama, June 17, 2022

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